Wolverhampton forms the administrative centre of the West Midlands, located approximately 17 miles north west of Birmingham.
Wolverhampton benefits from an extensive catchment population, over 610,000 people are within a 20 minute drive of the subject property.
The subject property benefits from being situated in a prominent site fronting Dunstall Road and Stafford Road (A449).
The subject property is the only DIY store located in the city, giving it dominance within the city.
The property is a purpose built solus retail warehouse unit totalling 41,015 sq ft.
Let to Wickes Building Supplies Ltd on a 25 year lease, expiring on 24 October 2029, giving 7.5 years unexpired.
Current passing rent of £482,640 per annum, equating to a low rent per sq ft of £11.77.
Freehold site area totalling 2.51 acres, with a low site cover of 35%.
We are instructed to seek offers in excess of £7,240,000 (Seven Million, Two Hundred and Forty Thousand Pounds), subject to contract and exclusive of VAT. This reflects a net initial yield of 6.25% (assuming purchaser’s costs of 6.65%), and a price of £175 per sq ft.